KLAS-TV Channel 8 News Las VegasLas Vegas' Riviera is Sold
Another popular hotel on the Las Vegas Strip is changing hands. A group of private investors are buying the Riviera. The group will pay more than $211 million for the Riviera Holdings Corporation and assume $215 million in Riviera debt.
The deal must be approved by shareholders and Nevada gaming authorities, which is expected in 2007.
The private investors call themselves Riv Acquisition Holdings, Incorporated.
Riviera shares dropped about 1-percent in early trading on the American Stock Exchange.
